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Treasury Secretary Scott Bessent told Congress he has no authority to bail out Bitcoin. The exchange came during a Senate Banking Committee hearing, when Senator Brad Sherman asked whether the Treasury could intervene to support cryptocurrency prices.
Bessent’s answer was direct: he cannot use taxpayer dollars to buy Bitcoin, and the question falls outside his mandate as chair of the Financial Stability Oversight Council.
Sherman’s question was a challenge, not a policy proposal. Could the President 
on…
